I haven't fully launched my business yet, but I filed my LLC (sole proprietor) at the end of 2023, but haven't made any money yet. I signed up for QuickBooks® Solopreneur, and it looks like I can just file year-end taxes.
- Do I still need to make estimated quarterly taxes if I'm a sole proprietor? I read somewhere that sole proprietors can just file year-end taxes.
- If so, how do I file quarterly taxes?
- How do I calculate quarterly estimated taxes?
- What is the penalty for not paying or filing on time?
- If I haven't filed on time, what is the process to file for the time that was not submitted even if I haven't made any money yet since it's a startup?
